NLC India Plans 2.4 GW Coal-Based Power Plants in Odisha, Secures 400 MW Power Purchase Agreement

29 Sep 2023 , 02:25 PM

NLC India witnessed a 5% increase in morning trade on September 29 after announcing plans to establish 3×800 MW coal-based power plants in Odisha. The company signed a power-purchase agreement with GRIDCO, an Odisha state power undertaking, for the purchase of 400 MW generated through thermal power plants in Jharsuguda and Sambalpur.

Land acquisition and contractor selection for construction are in progress for the project. The company reported a 14.15% YoY decline in revenue from operations and a 27.24% drop in net profit for the June quarter.

NLC India has tied up 2400 MW of power on a long-term basis with various states including Tamil Nadu, Puducherry, Kerala, and Odisha. NLC India, a ‘Navaratna’ central public sector undertaking, is involved in mining, power generation, and renewable energy projects focusing on solar and wind power.

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